ReBio Pharma Receives 410K Euros Funding from Business Finland to advance its SiSu® platform for ophthalmic therapeutics.
Turku, Finland, 7th January 2020 - Rebio Technologies Oy Ltd. (“ReBio Pharma”, “ReBio”, or the “Company”), a pre-clinical stage biotechnology company with an injectable bioresorbable sustained release delivery platform, SiSu®, for ophthalmic therapeutics, today announced that it has received a 410K Euros funding from Business Finland to support the development of SiSu®, ReBio’s proprietary phase-inverting anhydrous liquid polymer formulation platform, for the treatment of chronic eye diseases. This award funds a collaborative effort with Professor Arto Urtti’s ocular biopharmaceutics research team at the University of Eastern Finland to chemically and non-clinically characterize the in vivo behaviour of the SiSu® platform, as well as to answer key questions of safety, tolerability, and pharmacokinetics for ReBio’s lead program.
“The management of chronic eye diseases remain challenging due to the limitations of current treatment methods to address issues of patient compliance and adherence,” said Jonathan Glen, Founder and CEO of ReBio. “We believe that our SiSu® platform will improve the delivery of existing ophthalmic drugs, as well as provide a robust and customizable platform for the delivery of novel therapeutics. We are delighted to be collaborating with Professor Urtti’s group, and leveraging the University of Eastern Finland’s world-class expertise in the fields of ophthalmology and ophthalmic drug delivery. This non-dilutive capital will help us advance ReBio’s platform and lead product towards a first regulatory interaction, enabling us to plan for IND-enabling activities and initial clinical studies.”
Business Finland funds are competitive and applications carefully challenged; typically, only 5 grants per year are awarded for medical research and development projects. This important innovation development scheme supports the establishment and growth of promising technology businesses based in Finland across a variety of industry sectors.